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VP, Private Assets Operations & Implementation Manager - Team Leader

The Company:  Aflac Asset Mgt. LLC
The Location: 

New York City, NY, US, 10005

The Division:  Global Investment
Job Id:  1676

 

About Our Company

Aflac Global Investments located in the heart of the financial district is the organization who’s responsible for the overall investment activities of Aflac, Inc. With more than 100 employees in US (New York) and Japan (Tokyo); Aflac’s Global Investments organization seeks to maximize risk-adjusted returns subject to our liability profile and capital requirements and generates in excess of $3.0 billion a year in net investment income.

 

Job Summary

Within Aflac’s Global Investments, the Private Assets Operations and Implementation Manager – Team Leader in the US COO office.  The position requires expertise in managing all aspects of the onboarding process for a new fund and/or managed account and extensive collaboration and communication with internal and external stake holders. The position will be responsible for all middle and back office operational processes supporting private assets mandates including developing operational appropriate processes required to support private platform growth and establishing appropriate governance and control environment. Additionally, Team Leader will be responsible for conducting initial and ongoing operational due diligence reviews, and collaborate with key stakeholders with colleagues in Columbus, GA (Corporate) and Japan External Management teams. 

 

Reports to:  Director, U.S. Chief Operating Officer

 

Principal Duties & Responsibilities:

 

Portfolio Implementation and Onboarding: Lead private assets mandates onboarding coordination and pro-actively project manage all aspects of portfolio implementation to ensure successful launch and integration with internal processes and infrastructure.

  • Work with the external managers, internal portfolio managers, operations, data, IT and accounting teams to onboard and integrate external managers’ mandates in accordance with internal requirements.
  • Responsible for planning, progress tracking and reporting, identifying and resolving issues to ensure timely onboarding execution and issue resolution, development and documentation of operational workflows with internal stakeholders, external managers and service providers.  
  • Facilitate and ensure completion of onboarding requirements with all stakeholders (front office, operations, data, accounting, tax, legal and compliance, IT and external advisers) including ensuring solutions and issues closure and/or ensure post-onboarding resolution matters.
  • Establish appropriate governance and ensure internal approval processes as it relates to onboarding of external mandates and coordinate all internal stakeholders’ sign off prior to investments go live. Ensure all mandates documentation is captured and stored.
  • Coordinate and manage agreed upon service level requirements and relevant documentation with internal stakeholders (accounting, tax, valuation, IT, data management, operations, compliance and front office) and external managers and/or resolve ongoing issues.

 

Private Assets Operations: Lead and build out private asset operations to support front office portfolio management team responsible for private debt and alternative assets for externally managed mandates.  Oversee and manage operational integration with external managers, manage daily operational activity to support funds and separately managed accounts activity across direct middle market loan lending and real estate debt mandates (on a look through basis), private equity and real estate equity funds, and other asset classes (i.e. ABS, CLOs, structured credit). Day-to-day responsibilities include but are not limited to:

 

    • Be responsible for monitoring daily portfolio activity, ensure timely issues identification and resolution, communication of critical information between teams and with external managers and service providers.
    • Ensure proper operational controls are in place and document, maintain and enhance operational procedures and controls, ensure that appropriate escalation and risk mitigation solutions put in place and operationalize control reporting.
    • Lead the systems and process improvements, optimize current processes and look for opportunities for automation and efficiencies.
    • Have a good understanding of private debt security attributes and trade life cycle of a loan. 
    • Have a working knowledge of data governance and business data needs required to support internal processes and reporting, work with external managers and internal stakeholders to address data reporting issues, ensure resolution and develop solutions.   
    • Oversee, plan for and manage all capital calls and loan funding activity and settlement across investment product types (private funds and SMAs) and communicate timely with internal stakeholders and external parties.
    • Ensure that all signed subscription documentation, wires and transactions are appropriately approved and settled in a timely manner.
    • Oversee monthly cash planning and management process including trial balance analysis and incorporating projected portfolio activities, required expense and liquidity buffers, ensure that accruals and expense buffers are updated and communicated to the external managers.
    • Enhance and manage full suite of reconciliation processes including cash, transactions and positions and liaise with appropriate internal stakeholders.
    • Document, calculate and monitor payments for mandates fees and expenses, manage external managers and service provider invoice payments and questions.
    • Monitor the physical custody workflow to confirm that managers are following agreed upon documentation delivery and custody requirements, and resolve any questions or issues.
    • Serve as the primary point of contact/relationship manager and monitor external managers’ service level agreements and reporting deliverables, liaison with internal stakeholders and external managers to address issues.
    • Interface and serve as a primary relationship manager with external service providers and/or external managers involved in servicing private assets mandates including assist with various ad-hoc matters such as AML/KYC and tax documentation.   

 

Operational Due Diligence:  Responsible for planning, implementation, and execution of initial and ongoing operational due diligence reviews for the externally managed mandates. Maintain and advance operational due diligence best practices framework across external management platform to improve upon existing processes and procedures. Conduct both on-site and virtual due diligence meetings and conference calls with external managers including C-level suite management and senior operational personnel. Such reviews, should include but not limited to, an assessment of organizational and governance structure, personnel qualifications, review of operational and financial processes and controls, trade life cycle, risk management, infrastructure and systems, compliance program, the business continuity and disaster recovery plans and information security / cyber matters, assessment of third party service providers and financial and accounting reporting. Perform ongoing manager assessment as part of monitoring existing external managers by reviewing and analyzing manager DDQs, marketing materials, policies and procedures, public filings and other relevant documents and conducting periodic onsite visits and touch points with existing managers. Maintain documentation, identify issues and develop and recommend solutions. 
 

Education/Experience:

Bachelor’s degree in finance, accounting, mathematics, engineering, information systems, computer science or similar is required.  Masters/ MBA and/or CAIA/CFA/CPA is a plus.
 
Technical Skills:

  • Minimum of 10 years of experience in external management business, particularly with complex private assets and separately managed accounts on a look through basis.  Insurance company asset management experience a plus. 
  • In depth understanding of private market investment middle and back office operational processes, trade life cycle processes and controls, data requirements and flows
  • Understanding of processes and interdependencies with compliance, risk, accounting and IT and front office processes, reporting and analytics needs.
  • Direct middle and back office operational experience in private debt middle market loans (bank loans, real estate loans, ABS, CLOs, etc), private equity, real estate equity and/or venture capital. Middle and back office operations experience with private middle market loans is preferred,   accounting and loan administration experience is plus.
  • Previous experience in credit finance and/or credit product control or loan servicing is a plus. 
  • Working knowledge of loan debt platforms (such as WSO, BlackMountain /AllVue, Sentry, Solvas/CDO Suite, etc) and data management platforms, experience with integrating loan platform into enterprise infrastructure.
  • Understanding of all critical front, middle and back office and accounting processes and reporting.
  • Experience in working with portfolio managers / external managers and developing appropriate processes to ensure accurate data / trade capture and transaction processing including at the contract and facility level.
  • Understanding of front to back business requirements, process flows and reporting needs
  • Experience with data specifications documentation for loan mandates or similar private loans. 
  • Understanding of accounting including balance sheet, income statement and financial metrics
  • Experience in managing onboarding and business requirements of custom separately managed accounts for complex private asset classes in a separately managed account format.
  • Working knowledge/understanding of Operational Due Diligence workflows and processes.
  • Experience in evaluating internal control processes, procedures and documentation including ability to review of legal documentation.
  • 3+ years as a supervisor, manager, team lead, or people leader.
  • Knowledge or experience in managing operational risk management and asset manager oversight practices. 
  • Basic knowledge/understanding of US and/or Japan Insurance Industry Regulations as they pertain to Investments
  • Superior MS Excel skill set including pivots, vlookups, macros, etc.,  intermediate ability to work with MS Power Point, Python is a plus
  • Formal credit training preferred


Non - Technical Skills:

  • Strong leadership skills to lead middle and back office operational functions and manage complex private assets, ability to identify business operational needs and requirements and work on multiple projects with different deadlines independently.
  • Develops clear goals and execution plan that are consistent with business objectives.
  • A self-starter with a passion for problem-solving, willing to work in a collaborative and fast-paced environment, comfortable working in a fluid setting with multiple time sensitive priorities, able to identify priorities and appropriately manage time and resources.
  • Ability to facilitate compromise between conflicting requirements or points of view
  • Demonstrated ability to successfully deliver on projects, including ability to proactively work on solutions with minimal supervision
  • Strong client facing, interpersonal and communication skills (written and verbal) skills.   Candidate will work closely with the Aflac investment team, variety of internal stakeholders, external managers and service providers.
  • Highly organized with superior attention to detail with an ability to analyze large amount of data and extract meaningful information and identify findings in a succinct format.
  • Be able to identify and improve data accuracy and processes used in production of financial, accounting and investment reporting purposes.
  • Excellent verbal and written communication skills, ability to present and articulate issues clearly and succinctly to C-suite, variety of internal and external stake holders. 
  • Ability to interface with all levels of management
  • A team player with a strong work ethic
  • Ability to work effectively with other individuals and departments
  • Ability to work under pressure.

 

We will consider for employment all qualified applicants, including those with a criminal history, in a manner consistent with the requirements of all applicable federal, state, and local laws, including the Los Angeles Fair Chance Initiative for Hiring Ordinance, the San Francisco Fair Chance Ordinance, and the New York City Fair Chance Act. Applicants with criminal histories are encouraged to apply.


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City